Do you ever wanted to rip audio from video files online from youtube, Metacafe, Dailymotion etc.,? Then just enter the URL of the video clip to vid2mp3 and download the Mp3 file being converted. Vidtomp3 even lets you email mp3 files to your friend and embed on your blog or website. For example,listen the American Election song below. It supports YouTube, MegaVideo, Dailymotion, Metacafe, Veoh, Myspace, Break, iFilm, Google Video, Bolt, ClipJunkie, ClipShack, CollegeHumor, FunnyJunk, Glumbert, GoFish, Grouper, Hallpass, MilkandCookies, Putfile, SantaBanta, Sharkle, Shoutfile, Vimeo, vSocial, Yikers, ZippyVideos and more coming soon. Labels: convert video to audio, convert video to mp3, mp3, video clip | 
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You can also extract audio files using a free software called AOA Audio Extractor.
AOA Audio extractor is a versatile and easy to use program.
I have a video tutorial of it at:
http://www.freevideoworkshop.com/blog/index.php/2008/04/20/how-to-extract-audio-from-a-video-clip-for-free/
Happy Audio Extracting!